Within his recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he appointed the maverick economist Yanis Varoufakis to be his treasury head largely due to his worldwide fame and his “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own agenda that involved promoting Varoufakis's publications as well as experimenting with his own game theories on Greece rather than truly advocating the country's economic stability.
He explained how those discussions to prevent insolvency became “not just a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake lay both the country's destiny but also the severe austerity policies required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed that his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This account of events has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
